Tag Archives: Real Estate

Carbon Monoxide Detectors Required As Of July 1, 2011

Carbon monoxide (CO), a colorless, odorless gas, is often called the “silent killer” because it claims the lives of nearly 500 people a year in California and puts nearly 20,000 people in the hospital, reports Acting State Fire Marshal Tonya Hoover of the California Department of Forestry and Fire Protection. Also troubling, according to a June 6, 2011 article in the Contra Costa Times, is that a recent study conducted by First Alert found that nearly nine out of 10 California households were not in compliance with the national recommendation for the number of carbon monoxide detectors required in a home.

A new California law going into effect on July 1, 2011 vows to change that. Beginning on July 1, California’s SB 183 will require owners of single-family homes that have a fossil-fuel burning appliance, fireplace or attached garage to have a CO alarm installed inside their home. Rental owners have until January 1, 2013 to install CO alarms in their units.

If you haven’t already installed a CO alarm in your home, you only have days left to do so, so be sure to stop by your local hardware store, or order one online from a website such as Amazon.com or FirstAlert.com.

When installing your CO alarm, FirstAlert.com offers these tips:

• Be sure to install an alarm on every level of your home and within 15 feet of sleeping areas to make sure everyone can hear the alarm, even if their door is closed. For even better protection, consider installing alarms within each bedroom.

• Place your alarm at least 15-20 feet away from the furnace or other combustible appliances, and at least 10 feet from sources of humidity like bathrooms and showers.

• If you have a basement, place an alarm at the top of the basement stairs.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow home owners!
Be sure to follow us on Facebook at  www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

Make sure to click the Comment box below and share this article with your friends as well.

Strategic Defaulters May Not Buy Again Soon

Something to consider when weighing your options to walk away from your home.  Make sure that the outcome is something with which you can live.  Following is an article from Les Christie with important news about walking away from your mortgage and home:

How long will it be before former home owners who walked away from their mortgages can buy again?

Mortgage lenders are saying that in the future, losing a home because of illness or job loss will be seen differently than choosing to abandon a mortgage obligation for other reasons.

“If you made a strategic decision to default on paying your mortgage, it will work against you,” says Bill Merrell of the National Association of Review Appraisers and Mortgage Underwriters.

It will probably be seven or eight years before walkaways are able to buy another home, says Jay Brinkmann, chief economist for the Mortgage Bankers Association. “Credit scores are only one component of a complete credit decision,” he says. “[In these cases] credit scores are not a good indicator of their willingness to continue to pay their mortgage.”

Source: CNNMoney, Les Christie (05/28/2010)

As you can see, not all defaults are alike.  Your reasons for leaving will be weighted, and not necessarily in your favor, if the bank thinks this was a “strategic decision.”  Choose wisely.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow home owners!
Be sure to follow us on Facebook at  www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

Make sure to click the Comment box below and share this article with your friends as well.

Are You Tired of Getting Outbid?

Here’s an article, from the Wall Street Journal, that gives buyers some suggestions to help you in submitting a successful offer.  Take a look.

http://www.tiny9.com/u/Wall_Street_Journal_article

I especially agree with #3, about getting your agent to give you a comparative market analysis (CMA). I ran a quick CMA for the city of Elk Grove. The search criteria included: 3 beds, 2 bath, sold between April 1 and May 10, 2010.  There were 79 homes sold during this time.  Some of the statistics are amazing.  Days on the market ranged from 1 to 335. The percentage of sales price to list price ranged from 77.75% to 111.76%, with an average of 100.32%.  The average square foot price was $129.23. 

To ensure that you aren’t paying too much, a CMA of similar homes in the area is a good baseline.  From there you can consider location, condition, and other important criteria. 

I know I’m biased, being a Realtor and all, but it’s in your best interest as a buyer to have good representation.  Work with a Realtor and listen to their advise.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow home owners!
Be sure to follow us on Facebook at  www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

Make sure to click the Comment box below and share this article with your friends as well.

Don't Miss Out on the Federal Tax Credits

It’s not too late, but the clock is ticking.   The tax credit expires April 30 of this year.  Congress is saying, at this time, that they will not extend the deadline again.  You must have your purchase contract in place by April 30th.  Click on the link below to read the full article.  And give us a call if you are ready to buy.  We are ready to help you!

NCFebruaryArticle.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow home owners!
Be sure to follow us on Facebook at  www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

Make sure to click the Comment box below and share this article with your friends as well.

How is Obama's Anti-Foreclosure Program Going?

You’ve probably heard or read about the Obama Administration’s plan to help people avoid foreclosure.  Have you wondered if it works? Do you know anyone who has benefitted from it?  Here’s a recent article that discusses the current status of the program.

Washington Report: Anti-Foreclosure Program
by Kenneth R. Harney

The Obama administration came out with a score card on its anti-foreclosure program last week, and there’s just one word for it: Minimal. Of roughly 1 million financially-distressed home owners who’ve been given mortgage payment reductions through three month “trials” under the HAMP program, that’s the Home Affordable Modification Program, just 116,000 have ended up with permanent loan modifications from participating lenders.

Click below for the full story.

http://realtytimes.com/rtpages/20100222_washingtonreport.htm

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow home owners!
Be sure to follow us on Facebook at  www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

Make sure to click the Comment box below and share this article with your friends as well.